US Banking Giant Citigroup To Cut 1,000 Jobs This Week: Report

The job cuts are part of the bank's plan announced two years ago to reduce staff by 20,000 before the end of 2026, Bloomberg News report said.

U.S. banking giant Citigroup is reportedly cutting 1000 jobs this week as part of its CEO Jane Fraser's cost-cutting efforts.

The job cuts are part of the bank's plan announced two years ago to reduce staff by 20,000 before the end of 2026, according to a report from Bloomberg News that cited people familiar with the matter. 

Fraser has taken the corporate reorganization efforts at the U.S. firm since taking up the role, in a bid to trim down management layers and fasten decision making.